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Cortez, Colorado Homeowners Insurance
If you are a homeowner, you will more than likely need an HO-3 policy. This type of home insurance covers the cost of your property and your physical assets inside of it. It protects you from serious accidents, liability, and some medical payments.
Most home insurance policies require you to pay a deductible before they give you the rest of the insurance money. For this reason, choosing an affordable HO-3 premium is important. The average cost of homeowners insurance in Cortez is $1,075. This is on the lower end for general HO-3 insurance. However, there are even cheaper options for homeowners on a budget.
Learn more about cheaper home insurance companies down below:
List of Companies & Rates for HO-3 Coverage in Cortez, CO
|Farmers Insurance Exchange||$581|
|Horace Mann Property||$913|
|Twin City Fire||$930|
|Colorado Farm Bureau||$951|
|Foremost Grand Rapids, Michigan||$1,589|
Cortez Condo Insurance
A much cheaper way to live and own a home is through a condominium or shared housing. Sharing property with others increases the likelihood of needing your insurance, however. Choosing to live in a condominium makes you eligible for HO-6 homeowners insurance. This type of insurance protects your assets inside of the condominium and any accidents as a result of your neighbors are covered.
Expect the average for an HO-6 policy to be $422.69. This goes hand-in-hand with the national average, and most condominium homeowners pay around this rate. There are quite a few cheaper options, on the other hand.
For more budget-friendly condo insurance, take a look at some of the companies below:
List of Companies & Rates for HO-6 Coverage in Cortez, CO
|Colorado Farm Bureau||$239|
|Farmers Insurance Exchange||$293|
|Foremost Grand Rapids, Michigan||$310|
|Twin City Fire||$317|
|American Bankers Florida||$686|
Cortez Renters Insurance
An HO-4 policy protects renters from any property loss or liability. It does not cover the landlord’s property. Instead, it covers the renter’s property inside the rented area. This includes furniture, the renter’s appliances, and anything else the renter owns. Renters insurance also covers medical payments in case of an accident.
The average cost of renters insurance in Cortez is $258.55. An HO-4 requires a deductible before paying the rest of the renters insurance. For this reason, a renter may choose to have a higher premium for a lower deductible. To avoid paying a high premium, the best route to take is a cheaper company with lower premiums and deductibles. This is more feasible if the renter has lower-cost property.
Pay a lower premium by opting for cheaper renters insurance companies. Take a look at them here:
List of Companies & Rates for HO-4 Coverage in Cortez, CO
|Farmers Insurance Exchange||$155|
|Colorado Farm Bureau||$187|
|Twin City Fire||$203|
|Foremost Grand Rapids, Michigan||$255|
|American Bankers Florida||$300|
|American Family Home||$417|
Cortez, Colorado is a tiny urban city, but about 5% of the population lives in the rural parts. Only 8,709 people live in the small area, so it is a good place for homeowners that enjoy very small towns. The average household only earns $42,135 per year, but the median price of rent is only $817. The cost of living is very manageable in Cortez, so it is an excellent place to live for lower-income homeowners.
Source: These numbers were taken directly from https://www.colorado.gov/dora/division-insurance. They were recorded accurately at the time of writing the article. However, all statistics and prices are subject to change over time. For that reason, please visit the website for the most up-to-date information on the statistics of Cortez, Colorado.